The Global Acute Radiation Syndrome Market is driven by increased use of radiation therapy

Acute radiation syndrome (ARS), also known as radiation sickness, is a collection of health effects that are caused by being exposed to high amounts of radiation within a short period of time. Some key symptoms include nausea, vomiting, diarrhea, skin burns and fatigue. The syndrome occurs due to irreversible damage to cells and tissues. Radiation therapy or radiotherapy is a major treatment option for cancer that involves precisely delivering high doses of radiation to destroy cancer cells. It employs various ionizing radiation sources for external beam radiation therapy, internal radiation therapy using radioactive implants and systemic radioactive therapies. However, exposure to high doses of radiation during radiotherapy can sometimes cause Acute Radiation Syndrome Market Trends in cancer patients.

The Global Acute Radiation Syndrome Market is estimated to be valued at US$ 1.2 billion in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2029.

Key Takeaways

Key players operating in the Acute Radiation Syndrome market are Pfizer, Glaxosmithkline, Merck, Novartis, AstraZeneca, Zydus Cadila and Bristol Myers Squibb.

The increasing prevalence of cancer across the world is fueling the demand for radiation therapy for treatment. According to the World Health Organization, cancer burden is expected to reach 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. Radiation therapy being one of the major treatment options increases the risk of ARS among cancer patients.

The major players in the ARS market are focusing on expansion in developing regions of Asia Pacific, Latin America, Middle East and Africa to tap the growth opportunities owing to rising healthcare investments and growing cancer incidence in these regions.

Market Drivers

One of the key drivers for the acute radiation syndrome market is the rising use of radiation therapy for cancer treatment. Radiation therapy finds application in treatment of over 50% of all cancers and is an effective non-surgical treatment option either alone or in combination with surgery, chemotherapy or immunotherapy. Since ARS is caused due to exposure to high doses of radiation, increasing reliance on radiotherapy will directly contribute to the market growth.

The ongoing Russia-Ukraine conflict is impacting the growth of the Acute Radiation Syndrome market in many ways. The radiation from damaged nuclear power plants in conflict zones poses serious health risks. There is an increasing need for drugs, medical devices, and services to effectively treat and manage radiation exposure cases. However, supply chain disruptions caused by the war are hindering consistent product availability. Many Western nations have imposed economic sanctions on Russia, affecting collaborations and partnerships in radiological emergency preparedness.

Geographically, North America currently holds the largest share of the Acute Radiation Syndrome market in terms of value. This is attributed to increased government funding for nuclear disaster response programs and stockpiling of medical countermeasures in the US. However, the Asia Pacific region is likely to emerge as the fastest growing market in the coming years due to escalating geopolitical tensions and nuclear ambitions of some countries. Rising investments by governments in nuclear energy and expansion of related industries are enhancing the preparedness for radiation emergencies in the Asia Pacific region.

Europe has traditionally been a lucrative market for Acute Radiation Syndrome drugs and devices. This is because of the concentration of major players and availability of advanced healthcare facilities. However, the ongoing conflict is projected to hamper market prospects in Eastern European nations in the near term. Manufacturers will need to realign supply chains and distribution networks to cater to the disrupted demand-supply dynamics due to the war. Collaborations with local players could help address some of the challenges through alternative local sourcing and manufacturing arrangements.

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